2 June 2011
Yellow Brick Road Group Pty Limited ("Yellow Brick Road"), the wholly owned subsidiary of Yellow Brick Road Holdings Limited (ASX:YBR), has announced the signing of its 67th branch license agreement as Yellow Brick Road Holdings Limited prepares for its shares to recommence trading on the Australian Securities Exchange at 10am on 3rd June 2011. Yellow Brick Road, which has built a reputation for bringing real competition to the financial services industry, has also announced its expansion into Western Australia with the execution of its first branch agreement in Perth.
“Yellow Brick Road was built in order to make quality advice accessible to every Australian, and our listing on the Australian Stock Exchange gives us the visibility to make that goal a reality,” said Mark Bouris, Executive Chairman of Yellow Brick Road Group Holdings Limited. “Our aggressive growth strategy thus far has enabled us to cement ourselves as a leader in the non-bank sector, and we’ll continue on that trajectory in order to give all Australians the opportunity to secure their financial future with the confidence in knowing that they are backed by a tried and true provider.”
Yellow Brick Road has built a solid network of branches on the eastern seaboard with 65 current licensed distributors spread throughout New South Wales, Victoria and Queensland, of which 45 are currently operational. Yellow Brick Road has also entered into South Australia, with the company’s first branch located in Hillcrest. Yellow Brick Road’s impending expansion into Perth, once the branch becomes operational, gives it the opportunity to increase consumer awareness of both the brand and its one-stop-shop business model on a more comprehensive level.
“Our expansion strategy is simple - we are targeting high-growth markets in Australia, not just capital cities. This is exactly why we’ve opened branches in neighbourhoods such as Hillcrest, South Australia, Mt. Isa, Queensland and Rockhampton, Queensland,” said Bouris. “These communities are attracting first time home buyers and they are quickly becoming destinations for young families to settle down. These are the places that need access to financial advice the most, and our goal is to be with our customers every step of the way, from the purchase of their first home to planning for their retirement.”
Yellow Brick Road is confident in its success as a new entrant into Western Australia as its all-inclusive model is attractive to time-poor Australians who are looking for strategic solutions in order to achieve the best outcome for their financial future. Every Yellow Brick Road branch currently offers specialised advice for home loans, financial planning, superannuation, term deposits, accounting and tax.
Yellow Brick Road has plans to continue on its current course of signing approximately one branch agreement per week over the next six months. Yellow Brick Road will also be working to develop a strategic campaign in order to build heightened brand awareness both in new markets and on a national level.
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